Week Ahead: Consumer Takes the Stage
Retail sales, sentiment data, and earnings from two big retailers will give further insight this week into the biggest driver of the U.S. economy.
For Morningstar, I'm Jeremy Glaser. Welcome to The Week Ahead, our quick take on what investors should have on their radar screens for the week starting May 9.
Morningstar director of economic analysis Bob Johnson wrote that the U.S. economy is a one-trick pony named the consumer, given how they have been the engine of economic growth recently. The consumer will very much be in focus again this week. The most direct readings will be April's retail sales data and the University of Michigan's consumer sentiment data, both due out on Friday.
On the earnings front, Macy's and Nordstorm will provide a snapshot of consumer health. But remember that given the seemingly permanent shift away from department stores, these earnings are not the barometer they once were.
Disney also reports this week. Last quarter, the mouse was able to ride the strength of Star Wars to better-than-expected results. In this quarter, look for a focus on how ESPN is performing and for an update on the upcoming Shanghai Disneyland.
Stay tuned to Morningstar for our take on all of these stories.
Jeremy Glaser has a position in the following securities mentioned above: DIS. Find out about Morningstar’s editorial policies.